PM0223 : Project Cost Estimating Skills: Planning for Performance Excellence

Course Description

This practical and highly-interactive course includes real-life case studies and exercises where participants will be engaged in a series of interactive small groups and class workshops. This course is designed to provide participants with a detailed and up-to-date overview of project cost estimation. It covers the cost estimation of petroleum projects, project life cycle and the applied approaches for practicing the cost estimation; the models for cost estimation and the standards for project cost estimation; the WBS and WBS dictionary and analogous estimating; and the resource cost rates, bottom-up estimating and parametric estimating. During this interactive course, participants will learn the use of pertmaster to handle risk in cost estimation and practicing estimation approach; the estimation threshold for the project and activity cost estimates; the risk evaluation and contingency determination; and the estimate documentation, estimate reconciliation and estimate reporting.

link to course overview PDF

TRAINING METHODOLOGY

This interactive training course includes the following training methodologies:

30 % Lectures
20 % Practical Workshops & Work Presentations
30 % Hands-on Practical Exercises & Case Studies
20 % Simulators (Hardware & Software) & Videos

In an unlikely event, the course instructor may modify the above training methodology for technical reasons.

VIRTUAL TRAINING (IF APPLICABLE)

If this course is delivered online as a Virtual Training, the following limitations will be applicable:

Certificates	:	Only soft copy certificates will be issued
Training Materials	:	Only soft copy materials will be issued
Training Methodology	:	80% theory, 20% practical
Training Program	:	4 hours per day, from 09:30 to 13:30